Best Brokerage Houses in India
With an increase in the number of share brokers, people have a number of options in terms of share brokers and to choose the best brokerage houses in India. But, it’s still not so easy to select one. You have to be completely sure as to what exactly do you want from the stock broker. Below are some useful pointers to be considered while deciding the share broker that would best fit your requirements:
Difference between Full-service brokers and discount stock brokers-
The biggest difference between full-service stockbrokers and discount stock brokers. They charges a brokerage as a percentage of the trade value, for instance for ICICI it is between 0.5% to 0.9%. On the contrary, the discount stock broker like Upstox or Zerodha is way cheaper on the basis of per trade commission. Most of these discount stock brokers charge a fee between Rs. 15- Rs. 20 for a trade irrespective of trade volume.
Offline or phone trading or online trading- most of these stockbrokers have begun to offer online stock trading services to the customers. Some of these even offer trading over the phone or physically at the location of the stockbroker. You need to decide which Best Brokerage houses in India would be good for you. In case you’re comfortable trading on the internet from your desktop or laptop, you will realize that most of the share brokers are offering those services. There are certain people who like trading on the terminal of the stockbrokers or wish to get call assistance while trading. You need to ensure that the stockbroker that you select offers the services you’re in search of.
How often are you going to trade- whether you’re an investor or a stock trader? Investor is a person who trades a couple of times in a year while the trader trades at least a couple of times in a month. In case you’re an investor, then stock brokerage usually would not make any difference in the returns. On the contrary, in case you a stock trader, then brokerage would mean that you would make profit or a loss. So you need to decide if you want to become an investor or a trader before selecting the stockbroker.
Will you need advice for trading- will you require any financial advisor for suggesting you trade or if you would like to trade by yourself. In case you need the services of an advisor, then you need to keep in mind some historic data about the efficiency of the best brokerage houses in India for providing advice and whether you would be comfortable in offering him your hard-earned money. The full-service stockbroker usually has a research desk that would send you across a number of recommendations to trade in the shares. You need to check the historic recommendations and in case it matches with your needs of investment. Few of the full-service stockbrokers would also offer you the services of a relationship manager that would call you few times in a month and also for giving you a few investment ideas.
Conducting trade without the help of the internet- another thing that you need to consider is whether it offers call n trade service or not. As even when you have a smartphone, there can be a possibility that you would not be able to get access to the account because of a slow internet. Then, you will be able to call the stockbroker to close the trade. Most of these stockbrokers offer call n trade service but charge an additional fee for using the services. Also, some of the stockbrokers say that they offer the services but when the clients call them, their number is never reachable. You need to ensure to ask them about the general time for getting the call n trade service.
Trading with the local stockbrokers- the newer generation stock traders are quite tech savvy and they doing not mind trading online. In case you are also just like them, the discount stock broker would be good for you and in case you’re a person who prefers knowing the broker by face, then this list would not be of any use to you.
Trading platforms offered- another important thing that you should ask is about the trading platform that is offered by the stockbroker and if there are any additional charges for accessing them. Almost all the big stock brokers have now started offering their own stock trading platform. The new trade platforms help in making trading very easy and it takes just a few hours for getting used to these trading platforms. You need to keep in mind that a few of the local stock brokers still offers ODIN and NEST platform to trade. Some of the people face a lot of issues while investing as phone hands and the quotations aren’t refreshed.
Best discount stock brokers in the country
Zerodha- it is one of the Best Brokerage houses in India. It is also one of the oldest discount stock brokers of the country have more than 550,000 clients. They are quite competitive and follow the most simple stock brokerage structure. For delivery based trade they charge zero brokerage fees and for Intraday and futures and options trades, they charge Rs. 20 or 0.01% brokerage fee (whichever is lower). The process of opening an account is quite easy and it can now also be opened online. They even have their own trading platform known as KITE that you may run through the browser or install it on your smartphone.
Upstox- formerly called RKSV; Upstox is the discount stock broker which operates from Mumbai. They offer competitive rate of Rs. 20 for a trade irrespective of the size of trade. With these, delivery based trade is absolutely free of cost. They even offer cutting edge trade platform known as Upstox Pro that could be easily run through browser or simply by installing the application. The process of opening an account is very easy and all the work could be done online.
Fyers- it is a comparatively newer discount stock broker and offers a brokerage of 0.01% for Intraday and 0.1% for Delivery. The most important thing that you need to consider is brokerage fee that has been capped at 100 rupees for a trade. They offer the best trade platform that has been built in the house totally.
Angel Broking- established in the year 1987, this brand has become a well reputable share broking and wealth management firm in the country. They have developed a network of franchises and branches thereby maintaining a string support system for the traders and investors who generally prefer human interaction during the process of trading. Alternatively, you may even use the trading platform for the device that you want which could be smartphone, web, desktop and tablets. They also have 10 lakh plus clients who trade through them.
ICICI Direct- this is by far one of the biggest and the best full-service share broker. It has good service and a very easy-to-use user interface. The brokerage they charge is a little high and may vary from .55%- .20% on the basis of the trade value. The biggest selling point of the brand is that there’s a seamless integration with the ICICI Bank account that makes withdrawals/transfer of funds quick and easy.
Motilal Oswal- it is one of the most reputable and oldest stock brokers. It is the best full-service share broker offering a wide range of financial services to the customers. It is also known for its advisory services. They have a customer base of more than 8 lakh customers.
Sharekhan-established in 2000, Sharekhan is considered to be the Best Brokerage house in India It is a best full-service stockbroker and offers a different kind of services such as asset management.
HDFC Securities- it is also one of the best brokerage houses in India. With its bank branches, it has one of the biggest networks of branches which are next only to ICICI. It has a huge network of branches even in the smaller towns. All the investors have their bank account which ends up in opening a Demat or trading account. They are known to be well reliable full service stock brokers offering all the major service such as mutual funds’ investments, research desk, portfolio management, etc.
Kotak Securities- it is also a much known best brokerage houses in India. It has developed a good name in the financial services sector. With bank branches in all the big cities, they have been able to easily cater to the needs of their clients of the big cities. Their online service is quite decent but the stock brokerage isn’t so competitive.
Reliance Money- they have come with a big bang but lately, they have lost their sheen from the brand name. A lot of questions have been posted about the business practices of the brand. it is one of the best online stock firms in India.